MIPIM latest: Developer behind Palm Jumeirah is in MIPIM looking to attract investors

Deira Isands Dubai

UAE developer Nakheel is to award £1.5bn of construction contracts this year on new projects it is developing in Dubai, the firm has announced at the MIPIM conference in Cannes.

The company’s current projects span over 15,000 hectares with nearly 21,000 residential units under construction or in its pipeline. They include Deira Islands - a 15.3 sq km coastal city that will add 40 km, including 21 km of beachfront, to Dubai’s coastline - and the 811 hectare Jumeirah Village scheme.

Nakheel is currently at MIPIM looking to attract European investors with £776m worth of projects, including around 100 land plots for commercial, residential or hotel development in prime locations in Dubai.

Nakheel chairman Ali Rashid Lootah said Dubai’s population is expected to double by 2030 meaning the need for the city to expand opens up countless new opportunities for investors.

He added that the company wanted to continue to design and deliver new world-class projects, which are being developed in line with the Dubai government’s 2021 vision.